MPM Asset Management LLC Decreases Stock Holdings in Entrada Therapeutics, Inc. (NASDAQ:TRDA)

MPM Asset Management LLC trimmed its holdings in shares of Entrada Therapeutics, Inc. (NASDAQ:TRDA) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,381,062 shares of the company’s stock after selling 44,722 shares during the period. Entrada Therapeutics accounts for about 60.9% of MPM Asset Management LLC’s investment portfolio, making the stock its biggest holding. MPM Asset Management LLC owned approximately 11.71% of Entrada Therapeutics worth $75,749,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Entrada Therapeutics by 210.6% in the third quarter. Barclays PLC now owns 45,110 shares of the company’s stock worth $720,000 after acquiring an additional 30,585 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Entrada Therapeutics in the 4th quarter valued at $36,000. SG Americas Securities LLC boosted its position in shares of Entrada Therapeutics by 44.0% during the fourth quarter. SG Americas Securities LLC now owns 14,036 shares of the company’s stock valued at $243,000 after buying an additional 4,291 shares during the last quarter. LPL Financial LLC increased its stake in Entrada Therapeutics by 12.9% in the 4th quarter. LPL Financial LLC now owns 55,154 shares of the company’s stock valued at $954,000 after buying an additional 6,310 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Entrada Therapeutics by 22.1% in the 4th quarter. Legal & General Group Plc now owns 19,899 shares of the company’s stock valued at $344,000 after purchasing an additional 3,601 shares during the period. 86.39% of the stock is currently owned by institutional investors.

Entrada Therapeutics Stock Performance

Shares of NASDAQ:TRDA opened at $8.70 on Wednesday. The firm has a market cap of $330.19 million, a price-to-earnings ratio of 5.47 and a beta of 0.04. The business has a 50-day simple moving average of $9.13 and a two-hundred day simple moving average of $13.65. Entrada Therapeutics, Inc. has a fifty-two week low of $7.10 and a fifty-two week high of $21.79.

Entrada Therapeutics (NASDAQ:TRDA) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.36. The business had revenue of $8.75 million for the quarter, compared to the consensus estimate of $10.98 million. Entrada Therapeutics had a return on equity of 16.11% and a net margin of 25.53%. As a group, research analysts predict that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Entrada Therapeutics in a research note on Monday, March 31st.

About Entrada Therapeutics

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.